NOTE: Most of this spoiler was sent in by RJNARGI but it was very condensed so I added a little to it.

At the start of the film we see Wesley Snipes beating the crap out of an another boxer in the ring making his record a perfect 67-0. Snipes is at the maximum-security Sweetwater Prison in the Mohave Desert and is sentenced for life for murder. They have boxing matches a few times a year there and Snipes, a former boxer before prisoner, is the undisputed champ of the prison system.
He is the most popular inmate at the prison.

Meanwhile, Ving Rhames is the undisputed heavyweight champion of the real world when he sentenced to Sweetwater on rape charges. He is stripped of his title.

Rhames learns about the legend of Snipes and his prison boxing record and is not going to stand for anyone but himself calling themselves the undisputed champ. Rhames spends his first few weeks basically pissing everyone off, getting into fights and arguments.Basically, just being pretty cocky about being the champ. After a short altercation between Snipes and Rhames, everyone wants to see the two fight.

Peter Faulk plays a very old mob boss who was arrested for tax evasion. He is a huge fan of boxing and knows every fighter and all the history of boxing. He is also a big fan of Snipes and thinks he actually has a shot against the much bigger Rhames. Faulk uses all his influence and arranges a fight between the two undisputed champs. This will be a very secret fight with only the prisoners knowing about it. All of Faulk's mobsters on the outside also know about it and huge wagers are made. To get the two to agree to the fight Faulk promises Snipes 40% of what is earned from the wagers which he can send it to his sister. Rhames is promised to be released early using Faulk's mobster influence to make it happen.

Faulk then decides to go by some crazy London Boxing rules which is bare-fisted and rounds stop only when a guy is knocked down and has a 60 second count instead of 10. Faulk later refines the rules by using small 6 ounce gloves to encourage more punching.

By the time the fight starts, everyone in the prison hates Rhames because of his cockiness, and everyone from the prison inmates to the mob guys have bets on the fight with Snipes as a 40 to 1 underdog.

Now it becomes a Rocky movie...

For the first two rounds, Rhames dominates Snipes. It looks pretty bad when all of a sudden he gets off one punch which hurts Rhames real bad and knocks him down for the first time in his career.

The next few rounds show both fighters going back and forth with close-ups of their two trainers screaming encouragement to their fighters.

Finally Snipes gets off 3 or 4 punches that sends Rhames to the canvas for good. Snipes has beaten the world's undisputed champ.

Flash forward:

Faulk dies weeks later and Rhames is released. Rumors are flying around that he was beat in prison but Rhames and his promoters deny them all. The final scene we see is Rhames winning back his stripped title in a huge money making PPV fight from Vegas.

The inmates watching on TV just laugh as the announcers call Rhames the undisputed champ.

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